NEAR Protocol is down by $0.1 (-5.45%); currently trading around $1.77

NEAR is consolidating around the $1.77 level after dropping $0.1 at the start of the trading session.

NEAR Protocol made an initial break below its 5 day Simple Moving Average at $1.85, a possible indication of a forthcoming negative trend. NEAR could begin to recover as it approaches significant support, now 6 cents away from $1.83. Dipping below could be an indication that further losses are ahead. In contrast, Bollinger Bands® shows an indication of recovery: the lower band is at $1.69, a low enough level to, generally, suggest that NEAR is trading below its fair value.

In general, examining the technical analysis landscape, although indicators are mixed further drawbacks may be next for NEAR Protocol.

In the meantime, negative performances are also seen in other markets, Litecoin is down $6.04 from the beginning of the session and now trades around $82.8. After ending today's session at $1,997.67, Ethereum lost $119.98 and is trading around $1,877.69.

Positive performances can be seen by looking at other markets as FTX Token is up 9.54%.

NEAR has fallen back around 83.28% from the significant high of $11.17 set 11 months ago. NEAR Protocol is currently trading with a market cap of 1.58 billion with an average daily volume of 82.31 million.